terça-feira, 7 de abril de 2020

Brussels drops lockdown exit plan after anger from capitals / Eurogroup talks to save EU economy gridlocked over credit lines, corona bonds

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Brussels drops lockdown exit plan after anger from capitals

Governments force Commission into U-turn over fears it was moving too quickly.

By LILI BAYER 4/7/20, 5:19 PM CET Updated 4/8/20, 12:00 AM CET

The European Commission was forced by angry EU governments on Tuesday to drop plans to present a "roadmap" for ending the coronavirus lockdowns.

Governments made clear that the plans from President Ursula von der Leyen's Commission would send a dangerous signal when they are still urging millions of citizens to stay at home to save lives.

The Commission's embarrassing U-turn highlighted tensions over lockdowns between the EU executive and member governments. Brussels has been keen to play a coordinating role in managing the response to the coronavirus crisis after countries initially imposed a chaotic array of unilateral measures.

But in recent days countries such as Austria, the Czech Republic and Denmark have already laid out plans to ease some restrictions. Other countries like Spain and Italy, hit hardest by the virus that has killed thousands across the Continent, have made clear that severe limits on movement won't end in the immediate future.

The Commission's chief spokesman, Eric Mamer, announced at his regular midday press briefing that commissioners would on Wednesday "focus on the roadmap to exit, which will be adopted tomorrow." Von der Leyen herself would brief reporters on the plan, Mamer said.

Some capitals, anxious to loosen tight restrictions on their citizens and revive their economies even a little, are not waiting for a green light from Brussels.

Shortly thereafter, a senior Commission official told POLITICO that the proposed exit guidelines had already been circulated to national officials and "will be published tomorrow."

But by early evening, the Commission had backtracked, saying in an email that commissioners would only hold "an orientation debate on a roadmap to exit the restrictive measures" and that von der Leyen's news conference was postponed until the plan had been adopted.

Adoption of the plan has now been postponed until "after Easter," Mamer told POLITICO in a phone call Tuesday evening.

Officials said a group of EU member governments had told the Commission in no uncertain terms that it was on the wrong track, at a time when many countries are still struggling with the impact of the virus on their public health systems and populations.

"We criticized them for not being able to consult [on] this with member states in an appropriate way," said one senior diplomat.

Another diplomat summed up the confusion by sending a text message with a GIF of a spinning head, noting that this was not the first Commission U-turn on the issue of exit strategy.

The Commission had pitched its plan as a coordination effort to stop countries easing lockdown measures too quickly, as announcements by some capitals caused irritation in Brussels.

“If anything these restrictive measures have only [just] begun to show proper results," said a Commission official, who spoke on condition of anonymity.

“It is of essence now that member states persist a few weeks more and then gradually start to relax them,” the official said, adding that “exit steps need to be smart and coordinated as much as possible throughout Europe.”

Capitals in charge
Von der Leyen promised last month the bloc would seek a coordinated exit strategy following a videoconference of EU leaders. At the time she warned a failure to coordinate would “undermine the effectiveness of the tough measures we took.”

But some capitals, anxious to loosen tight restrictions on their citizens and revive their economies even a little, are not waiting for a green light from Brussels.

Austrian Chancellor Sebastian Kurz on Monday outlined a timetable to gradually ease his country's lockdown, with nonessential shops allowed to reopen with strict hygiene controls starting April 14. From May 1, all stores, shopping malls and hairdressers will be allowed to reopen. But other services, as well as restaurants and hotels, must stay shuttered until mid-May, with a final decision to be taken in mid-April, Kurz said.

The Danish government announced this week that it will reopen day care and elementary schools on April 15.

Starting April 9, the Czech Republic will allow some shops — including those that sell building materials or bicycles — to reopen.

Commission spokesman Mamer said on Tuesday that Austria and Denmark both informed the Commission and other member countries about their moves.

“We do not have yet a fully fledged analysis of these strategies, but what I can already say is that we understand that these strategies are very gradual, will be implemented step-by-step,” he said.

The Commission's exit roadmap had been expected to include guidance on coordinating a gradual rollback of public health measures and moves that impact the functioning of the EU's internal market, according to a diplomat briefed on the plans.

The senior Commission official said it is "weird" for national governments to be going ahead with their own easing of lockdowns when governments had asked Brussels to develop a common strategy.

The official acknowledged that it was ultimately up to member governments to judge what to do in their individual countries. "In the end they’re responsible to find the suitable timing for them as all member states are in different stages of the pandemic progressing,” the official said. But the official also branded governments pressing ahead on their own "not polite towards the EU.”

Florian Eder and Paola Tamma contributed reporting.


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Reunião do Eurogrupo suspensa após 16 horas de discussão sem acordo

Jornal Económico com Lusa 08 Abril 2020, 08:19
A reunião do Eurogrupo foi suspensa esta madrugada após 16 horas de discussões sem consenso para um compromisso político sobre a resposta económica da Europa à crise provocada pela pandemia covid-19, sendo retomada na quinta-feira, foi hoje anunciado.

Cristina Bernardo

“Após 16 horas de discussões, chegámos perto de um acordo, mas ainda não estamos lá”, pelo que “suspendi o Eurogrupo e [a discussão] continua amanhã, quinta-feira”, informa através da rede social Twitter o presidente do fórum de ministros das Finanças da zona euro, o português Mário Centeno.

O responsável garante que, ainda assim, o seu objetivo para a resposta europeia à crise “permanece” o mesmo, visando criar a consenso para “uma forte rede de segurança da União Europeia contra as consequências da covid-19, protegendo trabalhadores, empresas e países, e compromissos com um plano significativo de recuperação”.

Também através daquela rede social, o porta-voz do Eurogrupo, Luís Rego, informou que, devido à suspensão dos trabalhos, a conferência de imprensa marcada para esta manhã foi adiada.

“Mais detalhes serão anunciados posteriormente”, adianta.

A videoconferência de hoje do Eurogrupo, conduzida desde Lisboa por Mário Centeno, começou na terça-feira já com um atraso de uma hora, às 15:00 de Lisboa, tendo sido interrompida cerca das 18:00 para uma pausa de uma hora.

Porém, essa interrupção – durante a qual são feitos os tradicionais contactos bilaterais para tentar alcançar consensos – foi sendo prolongada até às 22:00 de Lisboa, até ao anúncio de que os trabalhos iriam entrar noite dentro.

Antes da reunião, Centeno disse esperar que os ministros das Finanças europeus cheguem a acordo sobre um pacote financeiro de emergência robusto para trabalhadores, empresas e países, e que se comprometam claramente com um plano de recuperação de grande envergadura.

Contudo, o compromisso a que os ministros das Finanças estão ‘obrigados’ a chegar está a revelar-se difícil de ‘fechar’, pois o ponto mais controverso da resposta, o financiamento para os Estados-membros, que Centeno defende que deve ser garantido através de linhas de crédito do Mecanismo Europeu de Estabilidade (MEE), por ser a opção mais prática e “consensual”, continua a dividir os Estados-membros.

De um lado, vários países, encabeçados por Itália, defendem antes a emissão conjunta de dívida – os chamados ‘eurobonds’ ou ‘coronabonds’ – e o primeiro-ministro italiano, Giuseppe Conte, já reafirmou a sua oposição à solução em forma de empréstimos do fundo de resgate da zona euro. Do outro, um conjunto de países, com Holanda à cabeça, rejeita liminarmente a mutualização da dívida, e, mesmo em relação às linhas de crédito do MEE, quer impor condições.

Mais pacíficas serão as duas outras vertentes do pacote de emergência que o presidente do Eurogrupo espera ‘fechar’ nesta reunião, para apresentar aos chefes de Estado e de Governo da UE: o programa de 100 mil milhões de euros proposto pela Comissão Europeia para financiar regimes de proteção de emprego e uma garantia de 200 mil milhões de euros do Banco Europeu de Investimento para apoiar as empresas em dificuldades, especialmente as pequenas e médias empresas.

Em pouco mais de um mês, esta é a quarta reunião por videoconferência dos ministros das Finanças europeus para tentar acordar uma resposta comum à crise do novo coronavírus, sendo que desta feita é-lhes ‘exigido’ um compromisso, para ser apresentado aos líderes europeus.

No último Conselho Europeu por videoconferência, realizado em 26 de março, os chefes de Estado e de Governo da União Europeia, após uma longa e tensa discussão, mandataram o Eurogrupo para apresentar, no prazo de duas semanas, propostas concretas sobre como enfrentar as consequências socioeconómicas da pandemia, que “tenham em conta a natureza sem precedentes do choque de covid-19”, que afeta as economias de todos os Estados-membros.


Eurogroup talks to save EU economy gridlocked over credit lines, corona bonds

Without an agreement on coordinated action, governments will have to borrow money from the markets to cushion the economic fallout from the pandemic.

By BJARKE SMITH-MEYER 4/8/20, 3:00 AM CET Updated 4/8/20, 3:02 AM CET

EU finance ministers are at loggerheads after hours of late-night negotiations over common initiatives they could introduce to stop the coronavirus from obliterating the bloc’s economy.

Factions led by Italy and the Netherlands clashed during Tuesday’s online Eurogroup meeting over conditions for credit lines from the eurozone’s bailout fund and the idea of pooling debt, officials on the call told POLITICO.

Eurogroup discussions began at around 4:30 p.m. over videoconference and were still ongoing in the early hours of Wednesday morning.

Without an agreement on coordinated action, governments will be left to their own devices and have to borrow money from the markets to cushion the economic fallout — threatening a debt crisis.

Governments have collectively pledged hundreds of billions of euros to keep their national economies afloat.

Eurogroup President Mário Centeno, who is in charge of mediating the talks, is scheduled to hold a press conference 10 a.m. Wednesday to present ministers’ conclusions.

Ministers are aiming to agree on at least three initiatives that would help governments prevent mass bankruptcies and spur economic recovery once countries end their lockdowns, introduced to stop the spread of the pandemic.

One of those initiatives is the European Commission’s proposed temporary unemployment reinsurance plan, worth €100 billion. The cash pot would support public programs that allow companies to reduce working hours and compensate their employees for any lost income.

The second comes from the European Investment Bank, which has pitched a €200 billion fund that can issue cheap loans to EU companies that are starved of cash.

Finally, there's the eurozone’s bailout fund, known as the European Stability Mechanism (ESM), from which any country that uses the common currency could draw a credit line worth 2 percent of its economic output — under certain conditions.

All ministers need to agree on the initiatives before they package them in a statement to send to country leaders for final approval. But differences persist, the officials said.

Dividing lines
Rome is determined to lighten, or even drop, the ESM credit lines conditions. The Dutch, backed by Austria and Finland, disagree.

The Hague is adamant that governments using the credit lines must promise to reserve the money for coronavirus health care and economic costs. States must also commit to ensuring their finances look healthy in the long-term.

The latter condition rings alarm bells in Italy, which fears any talk of fiscal surveillance could spook international investors and push up borrowing costs.

Another disagreement is over the idea of issuing EU corona bonds to finance the bloc's recovery. Italy is fighting to include the prospect of issuing joint debt in the Eurogroup statement to leaders.

But any suggestion of pooling debt is too much for the Dutch and Germans, who fear they’ll ultimately be left holding the bill if southern countries go broke.

France had tried to cool any talk of corona bonds by proposing a one-off fund that could raise debt and issue loans to governments. That’s still too controversial to consider for now, the officials said.

Authors:
Bjarke Smith-Meyer

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